Current through Register Vol. 35, No. 18, September 24, 2024
A.
Examinations required. An individual applying for a license as an
adjuster shall, prior to issuance of a license, personally take and pass a
written examination. The examination required by this section shall be of
sufficient scope to reasonably test the applicant's:
(1) knowledge, experience or training
relating to the assessment of:
(a) real and
personal property values; and
(b)
physical loss of or damage to real or personal property that may be the subject
of insurance and claims under insurance;
(2) knowledge of the duties and
responsibilities of an adjuster holding the type of adjuster's license applied
for as set forth by law and regulation in this state, including ethical and
fair trade practices;
(3) knowledge
of basic insurance theory, the essential elements of contracts, and claims, and
ethics terms and effects of the types of insurance contracts that provide
coverage on real and personal property;
(4) knowledge and experience adequate to
enable an adjuster holding the type of adjuster's license applied for to engage
in the business as an adjuster fairly and without injury to the public or any
member of the public with whom the applicant may have business as an adjuster;
and
(5) technical competence in the
handling of the types of claims for which the applicant is being
tested.
B.
Examination exemptions.
(1)
Examination is not required for an individual who was licensed in this state as
an adjuster prior to July 1, 2017, unless the license is allowed to lapse or is
terminated for any reason, as set forth in Subsection D of 13.4.8.9
NMAC.
(2) Examination is not
required for applicants who have taken and passed a similar examination and
received the same type of adjuster's license in a state in which the reciprocal
provisions of Section
59A-5-33
NMSA 1978 apply; and
(a) the license in the
other state is current, or
(b) the
application is received within 90 days after cancellation of the previous
license. If the license has been canceled, then the following is required:
(i) a certification from the reciprocal state
that at the time of cancellation the applicant was in good standing in that
state; or
(ii) records maintained
by the NAIC indicate that the adjuster is or was licensed in good standing for
the type of license applied for.
(3) Reexamination is not required for renewal
or continuance of resident or designated home state licenses, unless ordered by
the superintendent.
(4)
Reexamination is not required for resident applicants who have been licensed in
this state within the year prior to the date of the new application and who
seek to be relicensed for the same types of adjuster's license. This exemption
does not apply if the previous license was suspended, revoked or terminated, if
continuation of the license was refused by the superintendent or if the
applicant did not previously take and pass an exam in this state.
(5) Examination is not required for a
nonresident applicant who is licensed by designating a home state other than
the state of residence, if the state of licensure requires the passing of a
written examination in order to obtain the license and is a reciprocal
state.
(6) Examination is not
required for an applicant currently licensed as an adjuster in another state
who moves to this state and applies to become a resident insurance adjuster
within 90 days of establishing legal residence. For such applicants, the
examination requirement is waived as to licensure for the type of adjuster's
license previously held in the prior state, unless otherwise determined by the
superintendent.
C.
Examination fee. Each individual applying for an examination shall
remit a nonrefundable fee as set forth in Section
59A-6-1 NMSA
1978.
D.
Administration of
exams. The superintendent may contract with an outside testing service
for administering examinations and collecting the nonrefundable fee.
E.
Failure to appear. An
individual who fails to appear for an examination as scheduled or fails to pass
the examination shall reapply for an examination and remit all required fees
and forms before being rescheduled for another examination.
